Automating accounts payable (AP) differs from many different enterprise enterprise processes. First, it’s collaborative, involving transactions with suppliers and different third events. Second, for finest outcomes, it requires tight collaboration with associated departments corresponding to procurement, treasury and provide chain, amongst others.
For that cause, related communities and assets for accounts payable prolong past finance. Listed below are a number of key targets to think about for educating accounts payable professionals on traits and developments in AP and Procure-to-Pay (P2P) automation.
Organizations concentrating on AP and P2P Professionals
Institute of Finance & Administration (IOFM): IOFM focuses on schooling, certification and networking particularly tailor-made for AP and P2P practitioners. It hosts webinars every month and conferences within the spring and fall that embrace keynote audio system, break-out periods and vendor cubicles.
Institute of Monetary Operations and Management (IFOL): With workplace areas within the UK, US and Canada, IFOL gives coaching, certification and assist to a worldwide group that spans 14 international locations. Areas of focus embrace P2P, AP, Â Accounts Receivable (AR), Payroll and Shared Companies.
Shared Service Hyperlink (SSL): SSL markets itself as a business-to-business group of practitioners, thought leaders and resolution suppliers in finance and accounting. International enterprise companies, shared companies, procure-to-pay, order to money, file to report, and tax organizations are areas of focus, the place it shares finest follow ideas by means of webinars, articles, white papers and extra.
Analysis, advisory and benchmarking companies
As a bunch, these corporations tout their capability to assist organizations perceive and implement finest practices in enterprise course of enchancment and transformation. They provide insights, evaluation, and recommendation on varied points of expertise, enterprise methods, and market traits. Forrester, Gartner Group, Worldwide Knowledge Company (IDC) and The Hacket Group are among the many bigger corporations on this class.
Ardent Companions is a smaller agency on this group that brings a powerful concentrate on payables and P2P automation. One other smaller agency, Spend Issues, has tracked the procurement, finance, and provide chain expertise area since 2004. It affords specialty hubs that embrace AP Automation and Procure-to-Pay, participating with practitioners, consultants, resolution suppliers, and buyers.
Increasing data of Treasury
With new potential to help in money circulation administration and oversee dynamic reductions, AP at the moment is extra intently aligned with treasury than ever earlier than. That makes data of treasury developments a invaluable adjunct to experience in payables and P2P. As a company serving the treasury perform, the Affiliation for Monetary Professionals (AFP) gives certification and coaching in treasury and company monetary planning and evaluation. Its annual occasion incorporates a high-profile keynote together with roundtables, a vendor space and networking alternatives.
One other agency with treasury experience, Aite-Novarica Group, affords greater than 70 analysts and trade practitioners in North America and Europe with experience throughout all sectors of the monetary companies trade. Its library of greater than 3,000 reviews covers monetary companies expertise improvements over the previous 16 years. Â
In fact, there are a lot of extra organizations and assets offering monetary insights of worth to a payables group. LinkedIn teams, for instance, supply area specialties in varied areas of finance, procurement, provide chain and extra. Lastly, tailor-made Web searches on particular areas of curiosity can flip up extra assets that will help you in your journey to attain payables and P2P excellence